KRChoksey: UTI AMC IPO - Investment Rationale
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UTI Asset Management Company Ltd. is a Securities and Exchange Board of India -registered asset management company; sponsored by State Bank of India, Punjab National Bank, Bank of Baroda and Life Insurance Corporation of India.
T. Rowe Price, a global Private equity, is other major shareholder of UTI AMC with 26% stake.
Incorporated in 2002, UTI AMC was established as the first MF in India and has operating history of 50 plus years through its predecessor, Unit Trust of India.
The ‘UTI’ brand enjoys a strong brand value, especially in B30 cities and proven track record in mutual fund industry with strong brand recognition.
UTI is the second largest Asset Management Company in India in terms of total asset under management (AUM) and the eighth largest AMC in India in terms of mutual fund quarterly adjusted asset under management (QAAUM) as of June 30, 2020.
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